NET INCOME PER SHARE

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

10. NET INCOME PER SHARE

Per share results have been calculated based on the average number of common shares outstanding. The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Basic net income per share:
Net income applicable to common stockholders	$	31,902	$	22,945	$	53,174	$	43,118
Weighted average common shares outstanding		57,879		59,902		57,836		60,022
Basic net income per share	$	0.55	$	0.38	$	0.92	$	0.72
Diluted net income per share:
Net income applicable to common stockholders	$	31,902	$	22,945	$	53,174	$	43,118
Weighted average common shares outstanding		57,879		59,902		57,836		60,022
Dilutive shares from assumed conversion of convertible senior notes		435		1,831		1,073		1,762
Dilutive stock options and restricted stock		960		1,474		1,114		1,519
Diluted weighted average common shares outstanding		59,274		63,207		60,023		63,303
Diluted net income per share	$	0.54	$	0.36	$	0.89	$	0.68

The calculation of diluted net income per share for the three and six month periods ended June 30, 2018 and 2017 includes the impact of the Company’s Convertible Notes as the average stock price of the Company’s common stock during the period was above the initial conversion price of approximately $11.70 per share.